3 Ways To Embrace Consumer Demand For Price Transparency in Healthcare

 

In a recent survey by TransUnion, a shockingly low number of Americans revealed that they felt that their healthcare provider was “clear and upfront” about the cost involved in their care.

Let’s face it – we do not have the tools nor the infrastructure (especially small to mid-sized groups) to provide the level of transparency that the healthcare consumer expects.

A few years ago, when the payers paid most of the bill, it was not a conversation that occurred very frequently. That is no longer the case. With the rapidly growing patient out-of-pocket responsibilities, almost every patient is beginning to ask questions on the cost of their care.

To meet healthcare consumer’s financial expectations, providers are increasingly looking for ways to be more transparent. The following SlideShare explains three ways that providers can deliver price transparency in healthcare. With these strategies, providers can reduce patient bad debt by helping patients pay their bills.

1. Adopt a Culture of Transparency

2. Provide Clear Estimates

3. Embrace Technology for Transparency

 

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